Exports vital for India to reach US$ 5 tn: CIM

In an interaction with exporters, Shri Piyush Goyal, Commerce & Industry Minister stated that for India to be a US$ 5 trillion economy in the upcoming years, the country’s exports will have to be US$ 1 trillion. He urged them to identify the elements which directly and indirectly augment the cost of exported products such as cess paid on coal, electricity and royalty paid on mines. He also asked them to come up with the issues hindering exports.

These could pertain to availability of land, labour, common effluent treatment plants, cluster development and logistics support required in ports & so forth. The minister also said that the government is already simplifying rules and regulations for bolstering the country’s exports.